What would be considered an acceptable credit score in the detroit metro area in MI for an apartment?
My credit philosophy: There are three c’s to credit: character, capacity and capital. Your credit score only looks at capacity and capital. Capacity is your ability to pay rent and continue paying it over a long period of time. That is why they want to know where you work, what you do and how much you make. Capital in this case is the money you have to pay for other things that you need to live such as electricity, telephone, gasoline, security deposit and insurance for example. Your character is the one they won’t talk about in your credit score. If you have a job and you haven’t had one for too long, they are wondering about your character and a little bit apprehensive about you. You need someone to vouch for your character by backing you up when they ask you why you haven’t been at a job for too long for example. They can say that you are of sound character but to give your prospective landlord peace of mind they may be able to offer them a very large security deposit to boost their
